GreenergyDaily

Dec. 1, 2025

A major solar panel manufacturer is transferring the assets of its Chinese unit to Canadian ownership, to safeguard sales into the US as Washington steps up scrutiny of imports from the Asian nation.

CSI Solar Co., based in Suzhou, will sell 75.1% of three overseas factories that serve the US market to its parent company, Canadian Solar Inc., the Chinese company said in an exchange filing in Shanghai.

Canadian Solar, which is listed on the Nasdaq, was the world's seventh-biggest producer of solar panels last year, according to BloombergNEF data, and was an early entrant into the booming energy storage business. It owns 62% of CSI's shares, and Shawn Qu is chairman of both companies. CSI shares fell as much as 8% in Shanghai.

The Chinese company didn't specify in the filing where the three factories whose ownership is being transferred are located. However, it said they comprise a 3 gigawatt-hour energy storage system plant, a 2.9 gigawatt battery factory and an 8 gigawatt solar wafer slicing operation. The three facilities have a combined value of 469 million yuan ($66 million) and primarily supply the US, it said.

The factories will be used to help start two joint ventures focused on solar power and energy storage in the US, according to the filing. Canadian Solar will own 75.1% of the JVs, with CSI holding the remaining 24.9%.

CSI is aiming "to address changes in US market laws and regulations, ensure normal business operations, reduce operational risks, and achieve long-term participation in the US market," it said in the filing.